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Business & Finance Print edition: 2024-05-24

MoI&P suspends Engineering Development Board’s CEO

Published May 24, 2024 Updated May 24, 2024 10:14am
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ISLAMABAD: The Ministry of Industries and Production (MoI&P) has suspended Engineering Development Board (EDB) Chief Executive Officer (CEO) Raza Abbas Shah with immediate effect without citing any reason.

According to sources, the government was annoyed with the controversial policies of the EDB CEO with the industrial sector, especially new entrants under Auto Development Policy 2016-21 which created competition in the market.

According to the sources, signed contacts between the new entrants and the government were not honoured.

EV bikes, fans, LED lights: Chinese investors waiting for policies before initiating projects: EDB chief

He also hired six advisors on a package of Rs06 million per month.

A contract was also awarded with an IT firm for digitisation but the project was delayed inordinately.

Copyright Business Recorder, 2024

auto sector Industrial Sector MoI&P Engineering Development Board IT firm Raza Abbas Shah Auto Development Policy

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